KPN Exercises €116M Option In Buyout Of JV Partner

Law360, New York (January 3, 2014, 1:23 PM EST) -- Royal KPN NV is taking a controlling 60 percent interest in fiber optic company Reggefiber, exercising an option valued at over €116 million ($157 million), the Dutch telecom giant said Thursday.

In the deal, KPN will exercise its second option representing an additional 9 percent stake in Reggefiber, increasing KPN's interest to 60 percent. KPN will have a controlling stake in the company, which will be consolidated in KPN's financial statements.

The option is part of the companies' “Fiber-to-the-Home” joint venture agreement, which became exercisable on...